RYN
Rayonier Inc.
RYN's fundamentals are mixed: revenue grew 24%, but its operating margin fell 25 points to 12%. At 38x earnings, it's trading in line with its usual 40x. Analysts expect strong earnings growth, though they disagree widely on how much.
RYN Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Stable | |
| N/A | |
| N/A |
RYN's revenue is currently strong, and its profitability is stable. Free cash flow and net leverage aren't meaningful measures for real estate companies like RYN.
RYN PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 10x | $5.58 | -74% |
| Forward | 36x | $21.31 | — |
| Current | 38x | $21.31 | — |
| Fair | 40x | $22.22 | +4.3% |
| Expensive | 80x | $45.00 | +111% |
Historical ranges are pointers, not guarantees.
RYN's PE is in its fair range at 38x. If earnings grow as analysts expect, today's price would be 36x next year's earnings.
RYN Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Strong growth | |
| Strong growth | |
| Improving | |
| Limited | |
| Low |
Analysts expect strong earnings and revenue growth for RYN, with profitability improving. However, they disagree widely on these estimates.
RYN Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.60 | +6.6% |
| Q3 2026 | $0.56 | -89% |
| Q2 2026 | $0.43 | -91% |
| Q1 2026 | $3.00 | +27% |
| Q4 2025 | $3.03 | +27% |
| Q3 2025 | $5.07 | +378% |
| Q2 2025 | $4.98 | +398% |
| Q1 2025 | $2.36 | +111% |
| Q4 2024 | $2.39 | +104% |
RYN's earnings per share have fallen from their peak: $0.56 over the past year, against $5.07 in late 2025.
RYN Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $565.6M | +219% |
| Q2 2026 | $396.5M | +272% |
| Q1 2026 | $276.8M | +234% |
| Q4 2025 | $117.5M | -84% |
| Q3 2025 | $177.5M | -9% |
| Q2 2025 | $106.5M | -39% |
| Q1 2025 | $82.9M | -51% |
| Q4 2024 | $726.3M | +55% |
RYN's revenue is recovering but still below its 2024 peak: $566M last quarter, up 219% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 26% | +2.5 points |
| Q2 2026 | 8.7% | -4.9 points |
| Q1 2026 | -16% | -17 points |
| Q4 2025 | 23% | -25 points |
| Q3 2025 | 23% | +9.3 points |
| Q2 2025 | 14% | +6.5 points |
| Q1 2025 | 0.1% | -9.6 points |
| Q4 2024 | 48% | +17 points |
RYN's operating margin was 26% last quarter, up 2.5 points from the same quarter a year ago.
RYN Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $107M | +7.2% |
| Q2 2026 | $110.6M | +81% |
| Q1 2026 | $34.6M | +25% |
| Q4 2025 | $51.8M | -15% |
| Q3 2025 | $99.9M | +100% |
| Q2 2025 | $61M | +64% |
| Q1 2025 | $27.7M | -17% |
| Q4 2024 | $61.2M | +0.1% |
RYN's free cash flow was $304M over the past year, up 22% from the year before. Free cash flow isn't a meaningful measure for real estate companies like RYN.
RYN Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.4% | +1.3M shares |
| 1 year | +90% | +142M shares |
| 3 years | +99% | +149M shares |
| 5 years | +108% | +156M shares |
| Available history | +131% | +170M shares |
RYN has 300M diluted shares, up 90% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | $96,000 |
| Q2 2026 | $2.2M |
| Q1 2026 | $1M |
| Q4 2025 | $213,000 |
| Q3 2025 | $7,000 |
| Q2 2025 | $2.6M |
| Q1 2025 | $38,000 |
| Q4 2024 | $12,000 |
RYN has spent almost nothing on buybacks in the past year.
RYN Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2024 | 2.8x | Moderate |
| Q2 2024 | 2.7x | Moderate |
| Q1 2024 | 2.6x | Moderate |
| Q4 2023 | 2.5x | Moderate |
| Q3 2023 | 5.3x | High |
| Q2 2023 | 5.4x | High |
| Q1 2023 | 5.1x | High |
| Q4 2022 | 4.4x | High |
RYN's net debt is about 2.8 years of its operating earnings (EBITDA), down from 5.3 years a year ago. Net leverage isn't a meaningful measure for real estate companies like RYN.
RYN Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 55.0 | Neutral |
| Stochastic | 65.9 | Neutral |
RYN's weekly RSI is 55 (neutral) and its Stochastic is 66 (neutral).
RYN PE vs Real Estate Sector
| Metric | RYN | Sector median | Relative |
|---|---|---|---|
| PE | 38x | 24x | 59% above |
| PE % | 47 | 23 | 24 pts above |
RYN is trading at 38x earnings, a 59% premium to the Real Estate sector's median of 24x.
RYN Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $19.5 | 9.4% above |
| 20 week MA | $20.5 | 4.1% above |
| 50 week MA | $21.2 | 0.7% above |
| 100 week MA | $23.1 | 7.5% below |
| 200 week MA | $27.1 | 21% below |
RYN has bounced recently, but its long-term trend is still down: it's above its 8-, 20- and 50-week averages, but 21% below its 200-week average.
RYN Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $32.5 | $29.6 | -9% |
| 2021 | $29.6 | $38.7 | +31% |
| 2022 | $38.7 | $33.7 | -13% |
| 2023 | $33.7 | $33.4 | -0.9% |
| 2024 | $33.4 | $26.0 | -22% |
| 2025 | $26.0 | $21.8 | -16% |
| 2026 YTD | $21.8 | $21.3 | -2.2% |
RYN has finished four years in a row lower, and it's down 2.2% so far in 2026.